Moving forward

None of this was my fault, but it was my problem. Years ago, I co-signed a loan with my then-husband. After we divorced, it stayed in his name. I made payments until the bank notified me the debt was forgiven. It wasn’t.

I was unknowingly in default on my student loan. It was affecting my ex-husband’s credit score and mine, just as I was planning to remarry. The most stressful thing was not getting answers about how to fix this. Then I talked to a NFCC Certified Student Loan Counselor. I finally felt like I could breathe again.

With my counselor’s help I got the answers and the guidance I needed to create a repayment plan. I not only walked down the aisle as planned, I did so debt-free.

A healthier outlook

I didn’t leave school by choice. Two major health issues made the decision for me. By then, I had about $14,500 in federal student loans. Given my circumstances, I defaulted. Having those loans in my past prevented me from borrowing the money I needed to buy a home.

Working with an NFCC Certified Student Loan Counselor, I was able to get my loans transferred into a rehabilitation plan. For the next nine months, I made timely payments, which qualified me for an income-driven repayment plan with a new servicer.

Within a year of my initial call, my credit score had increased almost 100 points. Now I’m on track to becoming a home owner.

Who is the NFCC?

Founded in 1951, the National Foundation for Credit Counseling® (NFCC®) is the nation's first and largest nonprofit dedicated to improving people's financial well-being.

NFCC members help millions of consumers like you through community-based offices located in all 50 states and Puerto Rico. Each NFCC member agency has earned our seal by adhering to high standards and ethical practices designed to help you achieve financial stability.

Funding for operations and services comes from an ever-changing combination of federal, state and local government grants, as well as donations from financial industry participants and private donors.

Thank you to our funders.

The Sharpen Your Financial Focus™ program is an initiative of the National Foundation for Credit Counseling (NFCC) in partnership with a broad cross-section of supporters. Together, we are committed to increasing the financial well-being of Americans. This initiative is partially funded by Bank of America, Chase, Synchrony, Wells Fargo and other major financial institutions. We thank all funders and partners who make this program possible. For more information, visit www.SharpenToday.org.